Strategic Petroleum Reserve

The sun sets behind a crude oil storage facility in Cushing, Oklahoma, on May 4, 2020. The IEA's 31 members plan to release 120 million of barrels of oil from their emergency reserves, half of which will come from the U.S. as part of a previously announce

Economy

31 countries plan a big release of emergency oil to ease gasoline prices at the pump

3:17pm April 06, 2022

by Brittany Cronin

The International Energy Agency plans to release 120 million of barrels of oil from their emergency reserves, including 60 million from a previously announced U.S. drawdown.

High gas prices are posted at a gas station in Beverly Hills, Calif., on Nov. 7. Gas prices are surging across the country yet there's effectively little the Biden administration can do.

Economy

Gasoline prices are surging. Can Biden actually do something about it?

8:25am November 14, 2021

by Camila Domonoske

Presidents don't set the gas price you pay at the pump, but they're often blamed for it. And right now, high energy prices are helping send inflation to an over 30-year high.

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One of the sites for the Department of Energy's Strategic Petroleum Reserve lies within salt caverns 2,000 feet below the ground near Freeport, Texas.

National
Economy
Environment

Low Oil Prices Fuel Reconsideration Of Petroleum Reserves

8:58am June 21, 2016

by Jeff Brady

The Department of Energy is considering the future of the Strategic Petroleum Reserve. Some argue it's no longer needed or should be smaller because U.S. oil production has increased.

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